IMD launches The Next Generation

New program has a unique focus on future family business leaders

With globalization, slow-growing western economies, faster-growing emerging markets, and the exponential development of new technologies, it has never been more crucial to prepare the next generation.

IMD has therefore launched the only business school program in the world aimed specifically at the next generation of family business leaders.

The Next Generation is for young family members aged between 25 and 35 who are already involved in their family business, or who have been identified as potential future leaders in its management, ownership or governance.

The program covers general management topics such as leadership, strategy, marketing, finance and entrepreneurship, as well as family business-specific topics such as governance, succession and philanthropy. It provides a comprehensive overview of management best practices from the perspective of family businesses, and includes case studies and company visits. The emphasis throughout is on personal development and on participants applying their learning to their own context.

The Next Generation includes two face-to-face modules of two weeks each – one at IMD in Switzerland and the other in Singapore. In between these modules, participants work on a personal project with the support of a mentor. Pre- and post-program support will ensure that future family business leaders get the most out of their learning experience.

The first module will take place at the IMD campus in Lausanne from November 24 to December 5, 2014, and the second in Singapore from April 20 to May 1, 2015.

The Next Generation will be co-directed by Denise Kenyon-Rouvinez, IMD's Wild Group Professor of Family Business, and Benoit Leleux, IMD's Stephan Schmidheiny Professor of Entrepreneurship and Finance.

Professor Kenyon-Rouvinez said: "This program combines IMD's joint expertise in global leadership and family business, all geared to the needs of the next generation. Real-world relevance is crucial, and next-generation participants from around the world will be able to relate what they learn to the specific and complex environment in which family organizations operate."

Professor Leleux said: "Family business is not only about transmitting values, legacy and wealth, but also about entrepreneurial spirit and the ability to contribute. It is about making sure the next generation will be in a position to make a similar contribution to the current one. Families need to educate those responsible owners and equip them with the skills and abilities to build a sustainable legacy."

The program draws on the wealth of experience and research of the IMD Global Family Business Center, which has worked closely with the world's leading family businesses for more than 25 years. The Next Generation complements IMD's long-standing Leading the Family Business program, which helps family businesses better understand and manage their specific challenges, as well as the new Leading the Family Office program, which helps families reflect on and structure their wealth management.